Mortgage
Mortgages are used by individuals or companies wishing to buy high value real estates, without paying the whole amount up front. In this case, bank gives a loan to the borrower who must pay predefined set of payments, including interest, in a given period of time. Lender claims the property until the whole real estate is paid back.
| Related Terms: General Mortgage Growing-Equity Mortgage Hybrid REIT LTV Ratio Mortgage Pool Pool No-Lien Affidavit Open Mortgage Partial Release Pfandbriefe |